Grandchild investment for college
My grandchild just turned 4 and would like to start a nest egg for her like my parents and grandparents did. They invested in savings bonds and I did as well for my children. They use to be paper and I think they matured in 18 years. I have a modest amount to invest 500-1000 to start. I see that there are I-bonds now as well. What would you recommend and will it be flexible to add funds in the future? Thanks,
Terry Says
You can buy Savings Bonds — series I — and put them in a “gift box” named for each grandchild. Read this:
https://www.terrysavage.com/i-bonds-everything-you-must-know/
BUT, I really don’t think this is the best way to save for college. Instead you should be using a 529 College Savings Plan, where the money grows and can be spent on college in any state. Please read this:
https://www.terrysavage.com/529-plans-even-better-now-2/
